Cyber and the IRS have many similarities. Both never forget about you, both can come back and haunt you in years to come; they can both cost you money if you get things wrong and they both are difficult to…
Thanks for posting @Thaddeus Dziekanowski, figure 6 is interesting. According to Marsh between 2022 and 2023 the average ransom demand rocketed from $6m (2022) to $36m (2023). The average payment jumped from $6.4 million(2022) to $10.9 million(2023). The minimum ransom…
Banning ransomware payments is a bit like banning Kidnap and Ransom payments. It’s the right thing to do, until your family is being held hostage. Banning ransomeware makes great headlines. But until there’s an alternative it won’t or cannot happen.…
Thank you Olaf Classen for posting. The Swiss Federal Court told the insurer that they must pay the Garmin 2020 ransomware costs. This is a significant step. Firstly the requirement for the insurer to pay the 14 million euro ransom,…
What is interesting is that the U.S Department of Treasury has made clear that payment of ransomware to individuals, organizations or jurisdictions on OFAC is a breach of regulation, that comes with heavy penalties. While one is not aware of…
In May this year Xplain an IT service provider to several Swiss federal agencies was ransomed. Several weeks on, there is no indication of the full extent of the attack and data leak, however concerns have been identified by some…
Thank you for posting Olaf Classen, a further example of a supply chain hack. Xplain, a Swiss provider of government software is hacked, ransomed and data belonging to Federal Government finds its way onto the Dark Web. Ted Dziekanowski #cybersecurity…
One suspects that companies are starting to make the hard decision between the economics of paying a ransomware, the unlikely event of getting the encryption codes and the cost of restoration of operations. The regulatory implications of cyber are now…
We’ve been following the threat intel forums that show an increased focus of hackers and ransomware on the UK, and the education sector over the past 10 days. There is an increase in activity that looks to be specifically targeting…
The rise in visible cyber attacks in Australia has facilitated the government to make legislative proposals to regulated cybersecurity compliance. However the legislation of ransomware payment is a thorny issue, on one hand organisations need to get up and running…
